The farming under this agreement, which is priced in US dollars, is estimated to yield 3,000-3,600 tons of produce with a value of $1.1 - 1.3 million and an estimated net margin of 55-60%. The JV agreement provides for 50/50 split of profits between PROGREEN and CONTEL. However, PROGREEN will first recover all of its investment in the operation prior to profits being distributed. The produce will be harvested in 2-3 cuts, with the first expected for late June, and delivery will be to the buyer's packing plant in Ensenada, B.C.
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